Dreamscape Networks cash advance approved to grow company

Company News

by Jessica Amir

Web hosting company, Dreamscape Networks (ASX:DN8) has had a $20 million three-year cash advance approved, which will enable it to grow in Australia and Singapore

The facility was approved by a major Australian bank and will help the company make further cash flow positive and earnings accretive acquisitions.

The business says the cash advance will also allow it to make its balance sheet work harder for shareholders.

Dreamscape Networks says having successfully purchased and integrated Net Logistics (Sydney) and Vodien Group (Singapore) it’s in a strong position for further growth.

Shares in Dreamscape Networks (ASX:DN8) are trading 2.38 per cent higher at 21.5 cents.
 

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